Dennis Mehringer: Named in Pending FINRA Complaint

Public records published by the Financial Industry Regulatory Authority (FINRA) on January 5, 2017 indicate that California-based Western International Securities broker/adviser Dennis Mehringer has been named in a pending FINRA complaint. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Mehringer (CRD# 722569).

Dennis Mehringer has spent 34 years in the securities industry and has been registered with Western International Securities in Pasadena, California since 2009. Previous registrations include First Allied Securities in Pasadena, California; FSC Securities in Atlanta, Georgia; Walnut Street Securities in El Segundo, California; Equico Securities in New York, New York; the Equitable Life Assurance Society of the United States in New York, New York; United Pacific Securities in Carlsbad, California; New England Securities in New York, New York; US Securities Clearing Corporation, which has since been expelled by FINRA, in San Diego, California; Guardian Investor Services Corporation; PML Securities; and NEL Equity Services Corporation. He is a registered broker and investment adviser with six US states and territories: California, Florida, Michigan, Montana, North Carolina, and Washington.

According to his BrokerCheck report, Dennis Mehringer has received four customer complaints and has been named in a pending FINRA complaint.

In December 2016 Dennis Mehringer was named respondent in a FINRA complaint alleging he “made unsuitable recommendations that caused a customer to engage in excessively expensive short-term trading and intra-day switching of mutual fund Class A shares.” FINRA’s findings state that Mr. Mehringer “repeatedly recommended, and caused the customer to engage in, short-term purchases and sales of 84 mutual fund Class A positions (involving the sale of shares within a year of purchasing them) in five of the customer’s accounts.” The complaint goes on: “In 47 of the 84 purchase transactions, the customer paid front-end sales loads ranging from four to five percent. All but 17 of these 84 mutual fund positions were held for less than six months, and approximately 35 of them were held for less than three months. Five were held for less than one week. Mehringer received $169,735 in commissions from the transactions. Mehringer recommended the short-term mutual fund trading and the intra-day mutual fund switching alleged above without reasonable grounds to believe that the recommendations were suitable for the customer in light of the frequency and nature of the transactions, including the associated sales loads, based on the customer’s investment objectives. Given the long-term nature of Class A mutual fund share investments, along with the sales loads incurred in connection with frequent trading and switching between the relevant mutual funds and mutual fund families, Mehringer’s short-term trading and switching was also unsuitable for any customer.” The complaint, which also alleges he settled a complaint away from his firm and submitted false respondents to a firm questionnaire, remains pending.

In 2014 a customer alleged Dennis Mehringer, while employed at Western International Securities, charged excessive, improper commissions and executed unauthorized trades. The complaint settled for $290,000.

In 2012 a customer alleged Dennis Mehringer, while employed at Western International Securities, over-concentrated investments in the account. The complaint settled for $81,296.

If you have complaints regarding Dennis Mehringer, call Fitapelli Kurta at 877-238-4175 for a free consultation. You may be entitled to recoup your losses. All cases are taken on contingency: we only receive payment if and when you recover money. You may have a limited window to file your complaint, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.